Today, customers are increasingly discerning and demand flexible products that can be accessed at the tap of a screen. Both insurers and brokers need to invest in digital capabilities to address the demands and expectations of consumers. “Clients are looking for propositions that allow them to engage with their insurer for value added services,” said Elan Satov, Vice President, Digital Transformation at Aviva Canada. “Customers expect more than just a product wording. Telematics and connected home products are two good examples of more robust propositions emerging in the industry.”
Satov explained how most of Canada’s leading insurance companies have embarked on legacy system replacement programs, but with varying results. Most insurance companies start the transition by transforming claims operations, followed by policy and billing systems. Success has been mixed for insurance companies, but Satov is extremely pleased with the success Aviva has achieved through its transformation program and is excited by the organization’s increasing digital capabilities.
“Aviva is making significant investments to build digital customer solutions our brokers can use and help them create leading digital experiences,” Satov said. “Several brokers have already taken the lead in this space and many are continuing to reach out to Aviva for support, which we are happy to provide. One of our key recommendations to brokers is that they need to develop a holistic digital strategy across their businesses and not just implement one-off elements.”
Client expectations have changed and P & C insurers have to be proactive in order to meet those needs and remain competitive. Today, 70% of consumers carry out some form of digital research before buying insurance. And, 40% of Canadian consumers are obtaining insurance quotes online.*
"For brokers, doing business with a P & C insurer who understands the importance of the digital space should be a top priority. Satov concluded, “Our industry needs to transform to offer digital solutions that meet the needs of consumers in a rapidly changing landscape.”
*Deloitte: Property and Casualty Insurance Re-imagined:2025